180 Life Sciences (NASDAQ: ATNF), a clinical-stage biotechnology company, has closed on its previously announced registered direct offering. The offering, which was with a single healthcare-focused U.S. institutional investor, was comprised of 1,714,286 shares of the company’s common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to 2,571,429 shares of common stock. The units were priced at $3.50 per share and accompanying warrant. According to the announcement, the warrants have an exercise price of $3.50 per share and are initially exercisable beginning six months following the date of issuance; they also expire five years from the initial exercise date. Gross proceeds from the offering total an estimated $6 million, which the company anticipated using for R&D expenses as well as general corporate purposes.
To view the full press release, visit https://ibn.fm/6Zcaj
About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company driving groundbreaking studies into clinical programs that are seeking to address major unmet medical needs. The company’s focus is a novel program to treat several inflammatory disorders using anti-TNF (tumor necrosis factor). For more information about the company, visit www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at https://ibn.fm/ATNF
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